On October 1, 2024, government data revealed that Japan's unemployment rate fell to 2.5% in August, down from 2.7% in July. This decrease contrasts with economists' median forecast of 2.6%.
Furthermore, the job-to-applicant ratio also declined slightly from 1.24 in July to 1.23 in August, with the median estimate remaining at 1.24. A separate survey conducted by the private sector indicated stagnant factory activity in September, attributed to a weak economy and declining overseas demand, leading to reduced production and new orders.
The implications of these statistics suggest ongoing challenges for Japan's economy, particularly in manufacturing, which could affect global supply chains and economic relations.
Source: bloomberght.com